An infamous decaying pink mansion in San Francisco with beach access and stunning views of the Golden Gate Bridge has been offered at a “bargain” price after its former owner was convicted of stealing Picassos, several de Koonig paintings and a Degas statue .
After a tumultuous financial journey through bankruptcy court and shaky market performances, the troubled property is being offered again at a reduced price of $7 million unless a competing buyer emerges at this week's upcoming auction.
The home's last notorious owner is former real estate mogul and art con artist Luke Brugnara, a prominent figure in San Francisco's commercial real estate scene in the 1990s.
In 2019, the home came on the market for $15 million, $5 million more than the asking price.
The home in the city's Sea Cliff neighborhood was first put on the market in 2016 for nearly $20 million but failed to find a buyer.
An infamous decaying pink mansion in San Francisco with beach access and breathtaking views of the Golden Gate Bridge has been listed for $7 million
After a tumultuous financial journey through bankruptcy court and shaky market performances, the troubled property is being offered again at a reduced price of $7 million unless a competing buyer emerges at this week's upcoming auction
In 2019, the home came on the market for $15 million, with the asking price being $5 million
The home overlooks the San Francisco Bay and offers unobstructed views of the Golden Gate Bridge
The home is located in an exclusive part of San Francisco in the Sea Cliff neighborhood, close to downtown and the Golden Gate Bridge
Luke “Lucky Luke” Brugnara had five boxes containing $11 million worth of artwork delivered to the home’s garage by an art dealer in 2014, but refused to pay. He was sentenced to seven years in prison
Brugnara has faced setbacks including being denied a gambling license in Las Vegas due to financial irregularities and being accused of making death threats.
In 2010, he was jailed for tax evasion on capital gains from his properties.
After his release in 2014, Brugnara received the controversial art shipment and faced legal problems that led to his further conviction.
Brugnara apparently hid his hoards of stolen art worth $11 million in the house in 2014 before being sentenced to seven years in prison for art fraud in 2015.
The home in the city's Sea Cliff neighborhood was first put on the market in 2016 for nearly $20 million but failed to find a buyer
The 7,000-square-foot, six-bedroom home features enigmatic nooks, hidden wine cellars, tiled patios, and doors that seemingly lead to nowhere
Bankruptcy court documents obtained by SFGATE shed light on a mysterious fire at the residence in 2022 and building code violations related to the distinctive pink staircase leading to the ocean and a private cove.
In 2021, the outlet revealed an insider's look at the 7,000-square-foot, six-bedroom home, revealing its enigmatic nooks, hidden wine cellars, tiled patios, and doors that seemingly led to nowhere.
The garage where the FBI seized four boxes of art in 2014 (with the elusive fifth box still missing) was also explored.
The seized art included works by Pablo Picasso and 16 paintings by Willem de Kooning, as well as the Degas statue, valued at around $3 million.
Built in 1925, the property includes seven bedrooms, six bathrooms, formal living and dining rooms, a wine cellar, a top-floor family room, two fireplaces and a path leading to a secluded cove where dolphins are often seen gliding in the waves
Sea Cliff is a quiet and peaceful neighborhood with an emphasis on nature and breathtaking views of the surrounding bay
The home has several rooftop terraces from which to soak up the California sunshine and take in the breathtaking views
The home's location alone, with unobstructed views of the famous Golden Gate Bridge, the Marin Headlands, Baker Beach and the Pacific Ocean, should make the sale easier
Built in 1925, the property includes seven bedrooms, six bathrooms, formal living and dining rooms, a wine cellar, a top-floor family room, two fireplaces and a path leading to a secluded cove where dolphins are often seen gliding in the waves .
Although the house sits somewhat precariously on the edge of a cliff, it is not dangerous. The previous owners bought the house in 1990 and lived there until recently.
The home's location alone, with unobstructed views of the famous Golden Gate Bridge, the Marin Headlands, Baker Beach and the Pacific Ocean, should make the sale easier.
Sea Cliff is a quiet and peaceful neighborhood with an emphasis on nature and breathtaking views of the surrounding bay.
For those who want to be a little closer to the beach, the mansion features a zigzag staircase carved into the cliff that leads to a small private beach. The staircase is a unique feature of the house. Most of the other residents are stuck upstairs.
From the main street at 224 Sea Cliff Avenue, you can't see what lies beneath, and the mansion looks ordinary
The house is located on a unique property with only 18 to 25 houses on the clifftop strip of land
The home is one of a limited number of high quality homes built into the bluff in the Sea Cliff neighborhood
The home sits directly above a secluded and private cove that no other homeowner has access to
There are approximately 18 to 25 luxury homes built along the bluff, so whoever ultimately gets the keys will own a special piece of San Francisco real estate.
“There aren’t many that are actually coming to market,” Herrera said. “There was one that sold very quickly in July for $18 million.”
“It has become a place for those who have the means to buy a home and still be in the city, but still be closely connected to nature and enjoy the beauty of the views of the bridge and the beach “, notes Herrera.
Famous current and former residents of the neighborhood include Robin Williams, Sharon Stone, Eugene Levy, Cheech Marin, Ansel Adams, Paul Kantner of Jefferson Airplane and Kirk Hammett of Metallica.
The call was scheduled for January 26 at 10 a.m. before the Honorable U.S. Bankruptcy Judge Dennis Montali.